If you withdraw part of your money from a certificate of deposit before the date of maturity, you must pay an interest penalty.

Question

3 years ago

9

If you withdraw part of your money from a certificate of deposit before the date of maturity, you must pay an interest penalty.

Suppose you invested $6000 in a one-year certificate of deposit paying 8.3% interest. After 6 months, you decide to withdraw $6000. Your interest penalty is 3 months simple interest on the $6000. What interest penalty do you pay? (Round your answer to two decimal places.)

Mathematics

1 answer:

s344n2d4d5 [400] · Answer 1 · 2022-05-05T11:41:58+03:00

s344n2d4d5 [400]3 years ago

7 0

Answer:

$\frac{3}{12} *100=25\\$

8,3*0,25=2,10%(2d.p)

Step-by-step explanation: